Subject: Short Selling (OTC)
Author: pinkerton@graham.dowell.slb.com (DWL Pinkerton; Bobby) at Internet
Date: 11/20/99 12:42 PM
To whom it may concern:
(OTC) Stocks being sold naked by MM's (Market Makers)
This issue should be regulated most people that buy OTCBB stocks think they
are reporting 10Q and 10K. They think that since they are "listed" they
report financials.
Fortunately, this issue is being resolved with the Eligibility Rule. It
is time to take fraudlent activities head on and take another step and regulate
shorts. ILLEGAL SHORTING IN MY VIEW is the biggest fraud we have in the market.
If you are serious about protecting the public from any frauds, the SEC should
regulate short sales in any stock markets as listed stock. There are new investors
coming online every day, and most invest in penny stocks because of the prices,
and most find good little company's that are turning things around. Many have
lost money, because of ILLEGAL SHORTING. As I understand it, the SEC is
currently considering regulating short sales on otcbb stocks listed. This is also
a good idea. There're many games played by brokerages to manipulate the prices of
these small stocks. Anything that you may do to put all this above board for all
to see is a step in the right direction. A level playing field for all
parties involved could be achieved with positive regulation.
Please look into this matter, and make a level playing field for all
INVESTORS.
Kindest Regards,